Sector
Insurance
Composite, life and non-life insurers benefitting from compulsory insurance enforcement and RBS recapitalisation.
5 sub-sectorsBullishRisk: Low
Market size
₦1.2T
YoY growth
+14.2%
Forecast (12m)
+13.8%
EBITDA margin
22.0%
Sentiment score
+42
Risk score
30/100
Sector summary
Composite, life and non-life insurers benefitting from compulsory insurance enforcement and RBS recapitalisation.
Key drivers
- ●Compulsory insurance enforcement
- ●Bancassurance growth
- ●Pension annuity demand
Top risks
- ●Claims frequency from climate events
- ●Investment yield reversal
- ●Recapitalisation pressure on smaller players